Concannon Wealth Management Lowers stake in BB&T Corporation (BBT)

BB&T Corporation (BBT) : Concannon Wealth Management reduced its stake in BB&T Corporation by 68.11% during the most recent quarter end. The investment management company now holds a total of 273 shares of BB&T Corporation which is valued at $10,139 after selling 583 shares in BB&T Corporation , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.BB&T Corporation makes up approximately 0.01% of Concannon Wealth Management’s portfolio.

Other Hedge Funds, Including , Concert Wealth Management added BBT to its portfolio by purchasing 5,855 company shares during the most recent quarter which is valued at $215,874. BB&T Corporation makes up approx 0.03% of Concert Wealth Management’s portfolio.Boyd Watterson Asset Managementoh boosted its stake in BBT in the latest quarter, The investment management firm added 2,250 additional shares and now holds a total of 15,819 shares of BB&T Corporation which is valued at $580,241. BB&T Corporation makes up approx 0.28% of Boyd Watterson Asset Managementoh’s portfolio.Marshwinds Advisory Co reduced its stake in BBT by selling 886 shares or 7.94% in the most recent quarter. The Hedge Fund company now holds 10,267 shares of BBT which is valued at $361,604. BB&T Corporation makes up approx 0.18% of Marshwinds Advisory Co’s portfolio.

BB&T Corporation closed down -0.06 points or -0.16% at $38 with 30,09,801 shares getting traded on Monday. Post opening the session at $38.1, the shares hit an intraday low of $37.92 and an intraday high of $38.32 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, BB&T Corporation reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.68. The company had revenue of $2787.00 million for the quarter, compared to analysts expectations of $2748.91 million. The company’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS.

Investors should note that on Jul 26, 2016, BB&T Corporation announced a cash dividend of $0.3000. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Sep 1, 2016.

Many Wall Street Analysts have commented on BB&T Corporation. Shares were Downgraded by Robert W. Baird on Jul 11, 2016 to ” Neutral” and Lowered the Price Target to $ 37 from a previous price target of $40 .BB&T Corporation was Downgraded by Sandler O’Neill to ” Hold” on Jun 29, 2016. BB&T Corporation was Upgraded by Sun Trust Rbsn Humphrey to ” Buy” on May 16, 2016.

BB&T Corporation (BB&T) is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary Branch Bank and other nonbank subsidiaries. BB&T’s operations are divided into six reportable business segments: Community Banking Residential Mortgage Banking Dealer Financial Services Specialized Lending Insurance Services and Financial Services and Other Treasury and Corporate. Branch Bank provides a range of banking and trust services for retail and commercial clients in its geographic markets including small and mid-size businesses public agencies local governments and individuals through 1839 offices as of December 31 2014. BB&T’s subsidiaries offer a range of retail and commercial services to retail and commercial clients.

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